Hawaiian (NASDAQ:HA) Shares Gap Down After Earnings Miss

Hawaiian Holdings, Inc. (NASDAQ:HA) gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $13.26, but opened at $12.70. Hawaiian shares last traded at $13.57, with a volume of 376,239 shares trading hands.

The transportation company reported ($1.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.34) by ($0.03). Hawaiian had a negative return on equity of 301.69% and a negative net margin of 10.90%. The business had revenue of $731.91 million for the quarter, compared to analyst estimates of $745.68 million. During the same quarter in the previous year, the company earned ($0.47) EPS. The business’s revenue for the quarter was up 3.5% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HA. TD Cowen upped their target price on Hawaiian from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Susquehanna cut their price objective on shares of Hawaiian from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Hawaiian has a consensus rating of “Hold” and an average price target of $11.75.

Institutional Trading of Hawaiian

Several large investors have recently bought and sold shares of HA. Byrne Asset Management LLC bought a new position in shares of Hawaiian in the first quarter worth about $28,000. PenderFund Capital Management Ltd. bought a new position in Hawaiian in the 4th quarter valued at approximately $37,000. PNC Financial Services Group Inc. lifted its stake in Hawaiian by 210.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,487 shares of the transportation company’s stock valued at $78,000 after purchasing an additional 3,719 shares during the last quarter. CWM LLC boosted its position in Hawaiian by 97.2% in the fourth quarter. CWM LLC now owns 7,984 shares of the transportation company’s stock valued at $113,000 after buying an additional 3,936 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of Hawaiian during the fourth quarter worth $135,000. 70.15% of the stock is owned by institutional investors and hedge funds.

Hawaiian Stock Up 2.2 %

The company has a debt-to-equity ratio of 16.74, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $702.57 million, a price-to-earnings ratio of -2.29 and a beta of 2.38. The firm’s fifty day moving average price is $13.08 and its 200-day moving average price is $13.39.

About Hawaiian

Hawaiian Holdings, Inc, through its subsidiary, Hawaiian Airlines, Inc, engages in the scheduled air transportation of passengers and cargo. It provides daily services on North America routes between the State of Hawai'i and Long Beach, Los Angeles, Oakland, Ontario, Sacramento, San Diego, San Francisco, and San Jose, California; Las Vegas, Nevada; Seattle, Washington; Portland, Oregon; Phoenix, Arizona; New York City, New York; Austin, Texas; and Boston, Massachusetts.